Insider Tips on Banking MSBs

Presented by:
Ryan Rasske

The risk of banking Money Service Businesses (MSBs) is not new, but the methodology to control this particular risk changes all the time. Several banks approach MSB customers with extreme caution and continue to struggle with developing a risk-based program to open or maintain MSB accounts. While specific components of banking MSBs are relatively clear (e.g., confirming registration with FinCEN), banks' risk assessments of MSB customers continue to frustrate compliance officers.

During this session, you will hear "Insider Tips" focused on managing the level of risk for each MSB customer. The MSB industry is extremely diverse and the level of risk depends on the company's volume, customer base, geographical location and types of products or services they offer. The Insider Tips will guide financial institutions through the process of developing an MSB program that will satisfy their regulatory requirements.

During this two-hour session listeners will hear Insider Tips focused on:

Identify your bank's MSB accounts.

Developing Policies and Procedures.

Obtain the necessary documents from MSB customers.

Conduct due diligence to properly risk-rank MSBs.

Monitor MSB accounts for suspicious activity.

The program will include sample checklists, account opening due diligence questions and a risk-ranking methodology. Leveraging these tools will help your institution pinpoint your highest-risk MSB customers and focus the appropriate level of resources on accounts that pose the greatest risk of money laundering.



VIEW A 10 MINUTE SAMPLE
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About the speaker:  Ryan Rasske
As President of Associated Risk Group, Ryan is responsible for corporate administration and the management of sales, marketing and business development. ARG is an affiliate of Associated Banc-Corp ($22 billion bank holding company) that provides compliance consulting to small and mid size financial institutions. Prior to joining ARG, Ryan was employed with the U.S. Secret Service and lived in the Washington DC metropolitan area. His banking career started at E*TRADE Bank where he assumed the role of Bank Secrecy Act and Anti-Money Laundering Officer. In 2003, Ryan was employed at Associated Banc-Corp in Green Bay Wisconsin as Vice President, BSA/AML Director. In that capacity, he was responsible for the bank's Anti-Money Laundering, Bank Secrecy Act and OFAC compliance programs. He conducted several training programs throughout the year specializing in CIP, Identity Theft, Risk Assessment, Detecting and Reporting Suspicious Activity. Ryan is currently a board member of the ABA National Compliance School and actively participates in the ABA Money Laundering Issues Group. He was a speaker at the 2004 ABA Regulatory Compliance Conference in Chicago, frequently conducts web seminars for Money Laundering Alert and is also a member of ACAMS.

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

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